A golden deal! Wurth will pay more than a billion zlotys for TIM S.A., a Wroclaw-based company

TIM.pl is a leading B2B e-commerce provider in Poland, offering the country's largest electro-technical assortment for professionals. The TIM Group also includes 3LP S.A., a logistics center operator providing fulfillment services to e-commerce entities (including those outside the TIM Group). According to preliminary standalone results in 2022. TIM S.A. achieved sales revenues of PLN 1.45 billion. The company is listed on the Warsaw Stock Exchange.

TIM S.A. has just announced in a special communiqué that 'Würth Group will launch a tender offer for TIM shares. TIM's major shareholders have already committed to sell their shares in response to the tender offer'.

This means that the Würth Group - a global leader in the development, production and sale of fastening and assembly materials - wants to buy the Wroclaw-based company TIM S.A.

Major shareholders, including the company's chairman of the board Krzysztof Folta, have already signed investment agreements under which they undertake to sell their shares under the Tender Offer. Following the successful Tender Offer, the Würth Group intends to support TIM S.A. in its further development. The company will become an integral part of the Würth Group's Electrical Wholesale business unit and will continue to operate independently under its current management team - informs TIM S.A.

Würth to buy TIM SA: shares, transaction details

Taking into account the number of shares and their price, the Würth Group will have to pay more than PLN 1 billion 125 million for TIM SA.

This transaction is another milestone in the development path of the TIM Group, and at the same time confirms the great value that the managements and all employees of the two companies have built up over the years. Joining the Würth Group will strengthen TIM S.A. strategically and pave the way for expansion into new areas. It was of great importance to us that the agreed terms of the transaction are very favorable for existing shareholders, and that the Würth Group will support further dynamic development of the operations of both TIM Group companies.

Krzysztof Folta, CEO of TIM S.A.

Würth Group: We are impressed by the development of the TIM Group. What are the companies doing?

Ulrich Liedtke, vice president responsible for international wholesale of electrotechnical materials at the Würth Group, stresses that they are impressed by the TIM Group's development, especially in the areas of e-commerce and operational efficiency.

Joining forces in the market for electrotechnical distributors in Poland will help us achieve our strategic goals, as well as provide even greater exposure and know-how in the e-commerce area. We recognize the value of TIM, which is why we have decided to offer a very significant premium over the average transaction price of recent months.

Ulrich Liedtke, vice president responsible for international wholesale of electrical engineering materials at the Würth Group.

- The attractiveness of our proposal is demonstrated by the commitment of the Board of Directors and the Company's largest shareholders to sell their shares. Appreciating TIM's strong corporate culture, similar to ours, and the commitment of the company's employees to growth and innovation, we want to ensure that TIM continues its growth, so we intend to strongly support the current management in the implementation of the joint strategy, Ulrich Liedtke adds.

The Würth Group and its partner companies, both sales and manufacturing, operate in related business areas ranging from electrical and electronics wholesalers to financial services. The Group employs more than 85,000 people in more than 400 companies and has more than 2,500 stores in 80 countries. According to the preliminary annual financial report in 2022. The Group achieved sales revenues of €19.95 billion.